OSC TestLab selects 7 businesses to help improve new capital markets testing environment

April 26, 2022 FinTech and Alternative Finance, Fundraising, Investing, Trading, Innovation and Resources, Legal Issues, Regulation, Consultation, Research No comments

OSC | Apr 26, 2022

OSC TestLab spring 2022 - OSC TestLab selects 7 businesses to help improve new capital markets testing environment

April 25, 2022 TORONTO – The Ontario Securities Commission (OSC) today announced that innovative solutions put forward by seven businesses will be part of its new capital markets testing environment, OSC TestLab. This initiative allows businesses to test solutions that can help Ontario registrants and contribute to better investor outcomes.

See: Ontario moving ahead with expanded mandate for OSC

The following businesses will test solutions that include product comparison, client onboarding, portfolio analytics and assessment tools that leverage behavioural science, artificial intelligence and automation, among other approaches:

Broadridge Investor Communications Corporation
LockDocs Inc.
Mako Fintech
Morningstar Research Inc.
Syntoniq, Inc.
TMX Group
Wealthscope

“We are pleased to see such a strong response to our first test, which harnesses the collaborative power of people, ideas and expertise,” said Pat Chaukos, Director of the Innovation Office. “OSC TestLab is a unique opportunity to effect change and support innovation in our capital markets.”

Participating firms will begin testing later this spring with testing expected to conclude in fall 2022. More details about the tests, including how to participate as a registrant or investor, is available at oscinnovation.ca/TestLab/spring2022

In November 2021, the OSC invited businesses to submit applications to test their innovative solutions to make product information more accessible, improve information sharing and enhance registrant-client interactions. From these applications, the OSC selected seven firms to participate in testing.

See: How you can experiment, learn and improve with OSC TestLab

A first for Canada, OSC TestLab invites businesses to experiment with innovative solutions in Ontario’s capital markets as part of focused, group testing. Testing will provide opportunities for participants to learn through experimentation and gather feedback that can help to fine-tune and tailor solutions. At the same time, insights from testing can provide valuable input to inform the OSC’s efforts to modernize Ontario’s regulatory environment.

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